AFC and Italian Institutions Sign Cooperation Agreements to Support African Infrastructure and Industrial Development
Why it Matters
The agreements place transport, logistics and regional trade corridors within a wider Africa–Italy cooperation framework that combines infrastructure finance, export credit support, project preparation and industrial participation. For Africa’s rail and logistics sector, the reference to the Lobito Corridor is particularly relevant, as the corridor continues to attract international financing and industrial interest.
The cooperation also points to a broader shift in how African infrastructure projects are being structured. By linking AFC’s project pipeline and risk-mitigation capabilities with Italian development finance, export credit instruments and private sector networks, the agreements are intended to help move projects towards bankability and greater private sector participation.
Africa Finance Corporation (AFC) has signed a series of strategic cooperation agreements with Italian institutions and industry partners, aimed at mobilising capital and accelerating infrastructure and industrial development across Africa.
The agreements were signed during the AFC–Italy Business Forum in Rome and involve Cassa Depositi e Prestiti (CDP), SACE, Confindustria Assafrica & Mediterraneo and IMAGRO S.p.A. The cooperation frameworks cover infrastructure financing, export credit support, project preparation, industrial procurement, business matchmaking and private sector participation in AFC-supported projects across the continent.
For Africa’s transport and logistics sector, the agreements are relevant because they include cooperation across transport and logistics, regional trade corridors, power and renewable energy, critical minerals, natural resources, heavy industry, manufacturing and technology-enabled infrastructure. AFC also noted a particular focus on the Lobito Corridor, where infrastructure, logistics and industrial development are increasingly being positioned as part of broader Africa–Europe cooperation.
The forum brought together senior representatives from government, development finance institutions, industry, investors and project sponsors. Participants included Valentino Valentini, Italy’s Deputy Minister of Enterprises and Made in Italy, and Riccardo Barbieri Hermitte, Director General of the Treasury.
The partnerships align with the objectives of Italy’s Mattei Plan for Africa, bringing together AFC’s infrastructure development mandate, African project pipeline and risk-mitigation capabilities with Italy’s development finance, export credit instruments, industrial networks and private sector capacity.
AFC said the agreements build on an expanding partnership with Italian institutions. Over the past few years, CDP has provided facilities totalling EUR400 million to AFC, including a EUR250 million loan in 2025, supported by an 80% guarantee from SACE. According to AFC, these transactions reinforce confidence in its ability to deliver infrastructure projects across Africa, with particular focus on the Lobito Corridor.
Samaila Zubairu, President and CEO of AFC, said: “The AFC–Italy Business Forum was established to move beyond dialogue and create practical pathways for investment and industrial cooperation between Africa and Italy, and the agreements signed today demonstrate that commitment in action. By combining AFC’s project development expertise and investment pipeline with Italy’s financial, industrial and technological strengths, we are creating the partnerships needed to mobilise capital, reduce investment risk and accelerate industrial development across Africa. These collaborations will help transform opportunities into bankable projects that strengthen value chains, create jobs and support sustainable economic growth across the continent.”
Under the agreement with CDP, AFC and Italy’s development finance institution will explore opportunities for co-financing strategic projects, future funding arrangements, project preparation initiatives and collaboration with African and Italian enterprises. The partnership will also support the identification and development of bankable projects across priority sectors, including infrastructure, energy, water, environmental protection, natural resources, agriculture, food security and manufacturing.
Giovanni Gorno Tempini, President of Cassa Depositi e Prestiti, said: “The agreements signed today mark a significant step in advancing a new phase of partnership between Italy and Africa, reflecting a broader shift introduced by the Mattei Plan towards long-term, mutually beneficial cooperation based on shared priorities and industrial development. As Italy’s National Promotional Institution and Development Finance Institution, CDP plays a central role in delivering this vision, mobilising financial resources and instruments to support transformative investment programmes across the continent. By renewing the partnership with Africa Finance Corporation, we are strengthening our capacity to co-develop projects, expand co-financing opportunities and connect African and Italian enterprises from an early stage, helping to make investments more robust, bankable and attractive to private capital, and ultimately contributing to sustainable growth and shared prosperity.”
The cooperation framework with SACE, Italy’s export credit agency, will focus on guarantees, credit enhancement tools, export credit support and risk-sharing mechanisms. The agreement is intended to increase the participation of Italian companies in African infrastructure and industrial projects.
Michele Pignotti, CEO of SACE, said: “SACE is the leading Export Credit Agency per new commitments in Africa, with over 6.4 billion mobilised across the continent since the launch of the Mattei Plan for Africa. Partnering with AFC is fundamental to unlock the full potential of Italy-Africa trade & investments. Together, we aim to facilitate the participation of Italian companies in the continent’s most strategic projects, spanning transport corridors, energy infrastructure, industrial development and critical raw materials value chains. Our agreement creates a framework that allows us to identify opportunities in advance, mobilise capital more effectively and generate stronger synergies between our respective instruments and capabilities.”
AFC also signed a strategic cooperation agreement with Confindustria Assafrica & Mediterraneo, which supports the internationalisation of Italian companies in Africa, the Middle East and Turkey. The agreement will strengthen engagement between African project sponsors and Italian businesses through business missions, investment promotion activities, matchmaking initiatives, conferences and knowledge-sharing platforms.
Enrico Maria Bagnasco, President of Confindustria Assafrica & Mediterraneo, said: “The collaboration with Africa Finance Corporation is an opportunity to support a stronger and more effective Italian presence in Africa. The Memorandum of Understanding we signed today with AFC is an important step in this direction. It gives our cooperation a more structured basis and can help strengthen the link between AFC and Italian industry, opening new project opportunities and supporting the involvement of Italian companies in Africa’s infrastructure development.”
Lorenzo Ortona, National Deputy Coordinator of the Mattei Plan, said: “The Mattei Plan was created to build an equal partnership with African countries, grounded in concrete projects and shared benefits. Our collaboration with Africa Finance Corporation fully embodies this spirit: over these years, AFC has proven to be a reliable and capable partner, able to translate the Plan’s ambitions into bankable initiatives and real investments that benefit both African economies and the Italian system. I wish to thank AFC for the work we have accomplished together, which has made it possible to mobilise capital, share risk and open new opportunities for Italian companies along strategic value chains – from infrastructure to energy, from critical raw materials to trade corridors. The agreements signed today consolidate a journey already underway and strengthen the economic ties between Italy and the African continent. I am confident that this synergy between the Italian system and AFC can only continue to grow, generating investment, employment and shared prosperity on both shores of the Mediterranean.”
AFC said it will continue expanding its network of strategic partnerships with development finance institutions, export credit agencies and industrial stakeholders, with the aim of mobilising capital, expertise and partnerships to support resilient infrastructure, industrialisation and long-term economic development across Africa.
